The mortgage loan allows you to have the money necessary to carry out your real estate projects. This form of loan is usually spread over a period of 10 to 30 years. Before taking out a mortgage loan, it is essential to be well informed. Credit is never free. In addition to the borrowed money that you will have to repay, you must pay interest .
A specific element of mortgage credit is the "collateral" that you give as a guarantee of repayment, namely the mortgage . Through the mortgage, you give the lender the right to sell your home if you no longer meet your payment obligations . He can then use the proceeds of the sale to be reimbursed.
Who to contact?
The easiest way is of course to contact your current bank. But all mortgage credit lenders and mortgage credit intermediaries such as brokers or tied agents and mortgage credit sub-agents also offer you mortgage credit. Consult the list ofmortgage credit intermediaries and lenders registered/approved by the FSMA (Financial Services and Markets Authority) to discover all the establishments you can contact.
A Credit Adapted to Your Needs
Different types of mortgage credit exist. For example, you will always have the choice between fixed rate credit and variable rate credit and will be able to determine the duration during which you wish to repay your credit.
The law provides that, in terms of variable rates, the variation can only be made within certain limits. The lender could not decide, for example, to vary the rate every month, according to market rates.
Same thing with capital repayment. The lender could not decide at will on the terms of repayment. For example, he could not demand reimbursement for the sole reason that at a certain moment he could invest this money in a more attractive way.
